Dynamic assessment modelling for project portfolio benefits

Abstract

Project portfolio benefits (PPBs) are typically regarded as a key feature for successful project portfolios in practice. However, there is little prescriptive knowledge that offers guidance on how to tackle the realisation and improvement of PPBs. To narrow this research gap, we develop a systematic assessment model to analyse and optimize PPBs. Innovatively considering the recessive benefits resulting from synergies among different project components, four subsystems of PPBs are identified. Subsequently, by synthesizing the interrelations within and between subsystems, a system dynamics model is developed to assess PPBs dynamically. Then, a numerical example is adopted to validate the applicability and effectiveness of the proposed model. It can be concluded that the model is exploitable in academia and practice. For academia, this study expands benefit management tools and provides a theoretical basis for project portfolio benefit optimization. For practitioners, the straightforward model and procedure contribute to enhancing the management of PPBs.

Keywords:

• Project portfolio benefits
• benefit assessment
• system dynamics
• synergetic effect

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

This work was supported by the [Fundamental Research Funds for the Central Universities #1] under Grant [number 300102231639, 300102230613]; [Innovation Capacity Support Plan of Shaanxi Province #2] under Grant [number 2020KJXX-054]; [Major projects of Shaanxi Social Science Federation #3] under Grant [number 2020Z361]; [Ministry of Education Humanities and Social Sciences Fund #4] under Grant [number 18YJC630040]; [National Natural Science Foundation of China#5] under Grant [number 72002018, 71802003]; [Social Science Planning Fund of Shaanxi Province #6] under Grant [number 2020R028].